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The FAO reported record 2019 world cereal output of 2,714 million tonnes, with global wheat production up 34.8 million tonnes on an excellent EU harvest. Global cereal stocks remain near third-highest on record, and 2020 winter wheat planting is mixed across regions.
Record global supplies and comfortable stock-to-use ratios weigh on grain prices, though regional planting conditions add some uncertainty.
dtnpf.comCliff JamiesonFeb 13, 2020After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
